William Chase, the founder of Tyrrells, who sold his potato chips business for an estimated £40m last April to private equity firm Langholm Capital, is venturing into gin for the first time with William's - a super-premium gin with a patriotic proposition.
Chase, who branched out into vodka production with the aid of a £5m cash prize from Bank of Scotland in November 2007, forecasts sales of William's (rsp: £26) to reach £10m-£15m in the first year and claimed there was a market opportunity for a gin that had strong British credentials.
The Union Jack labelling and English potatoes - also used to make Chase Vodka - meant William's was perfectly positioned to export to markets where gin sales were booming, such as China, India and the US. "I've always thought there was an export opportunity for a gin brand that had strong provenance and played strongly on its Britishness, and because William's contains potatoes from our Herefordshire farm, we have a clear unique selling point," said Chase. "The weak pound also makes this a good time to export."
William's will be available in standard and organic versions when it rolls out to independent drinks retailers in June.
Chase acknowledged William's would compete in a congested category, against Bombay Sapphire, Hendricks and Beefeater 24, launched two weeks ago.
"It'll be four or five years before we break even," admitted Chase. "There is small movement in premium gin and it's controlled by the big players. But distributors are looking for niche brands with quirky appeal, so I'm confident."
Chase, who branched out into vodka production with the aid of a £5m cash prize from Bank of Scotland in November 2007, forecasts sales of William's (rsp: £26) to reach £10m-£15m in the first year and claimed there was a market opportunity for a gin that had strong British credentials.
The Union Jack labelling and English potatoes - also used to make Chase Vodka - meant William's was perfectly positioned to export to markets where gin sales were booming, such as China, India and the US. "I've always thought there was an export opportunity for a gin brand that had strong provenance and played strongly on its Britishness, and because William's contains potatoes from our Herefordshire farm, we have a clear unique selling point," said Chase. "The weak pound also makes this a good time to export."
William's will be available in standard and organic versions when it rolls out to independent drinks retailers in June.
Chase acknowledged William's would compete in a congested category, against Bombay Sapphire, Hendricks and Beefeater 24, launched two weeks ago.
"It'll be four or five years before we break even," admitted Chase. "There is small movement in premium gin and it's controlled by the big players. But distributors are looking for niche brands with quirky appeal, so I'm confident."
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